Europe’s 20 largest startup funding rounds this year (so far)

Despite a cautious VC climate and ongoing geopolitical jitters, European startups are still attracting serious cash. 

Covering everything from AI drug discovery and space launches to quantum software and fusion energy, the continent’s startups raised €19bn in the first half of 2025, according to Dealroom data. 

We’ve crunched the numbers so you don’t have to. Here are the 20 largest startup funding rounds for H1 2025. (Note: This list includes only startups founded in 2015 and later.) 

1. Helsing — €600M

HQ: Munich, Germany

Helsing builds AI-powered software for defence systems, designed to help democratic governments respond to modern security threats. It raised €600mn in a Series D round led by General Catalyst — a huge endorsement for Europe’s rapidly growing defence tech sector. The deal brought Helsing’s valuation to €12bn, making it one of the continent’s most valuable private companies.

2. Isomorphic Labs — €508M

HQ ...